After the start of the COVID-19 pandemic, many restaurants in the U.S. have been able to find enough staff to fill all open positions. According to the source, ** percent of restauranteurs reported that workers higher expectation for competitive wages was a reason for the labor shortage.

The construction sector employed over *** million people in the United States in April 2025, which was the highest number since the 21st century. There is a strong correlation between the amount of investment in construction and demand for workers. For example, in the years following the 2008 financial crisis, the value of new construction put in place in the U.S. decreased, which also translated in lower employee numbers in the construction sector. How to improve the job shortage? Many contractors have reported difficulty finding skilled workers recently. However, that has not only been the case in the construction industry, but in many other sectors of the economy too. For example, U.S. restaurants reported shortages in different positions in the past years. Although there are many reasons why workers may quit, in general, an increase in the salaries of construction employees may help in reducing the number of resignations. Worker shortages in Europe The United States is not the only country where companies have been facing these challenges. Thus, the percentage of French infrastructure companies reporting staff shortage peaked in 2019 and 2023. However, there are certain industries that struggle finding new employees more than construction. Social and care work had the highest skilled labor shortages in Germany.

According to the most recent population forecasts for Switzerland (Bundesamt für Statistik 2015), the share of old-age dependants (older than 65 years) relative to the working age population (20-64) is going to increase from 29.1% in 2015 to 48.1% in 2045. In the same time span, total population is expected to grow from 8.3 million to 10.2 million while the potential workforce is growing from 4.8 million to 5.3 million. As a result, potential labour supply per capita is decreasing and at the same time the share of old-age dependants as well as the average age of the population are increasing rapidly. Among other problems, this is going to lead to significant distortions on labour markets; such as labour shortages or shifts in the structure of labour demand due to shifts in final goods demand. Furthermore, the current political climate in Switzerland tends towards restricting immigration. Since the Swiss economy already relies heavily on foreign workers, a restriction of immigration might aggravate the predicted labour supply shortages even further.

The goal of this research project is to evaluate the consequences of population ageing for the Swiss labour market. A special focus lies on the labour demand side, specifically on medium and long term sectoral and occupational shifts caused by a decrease in (skilled) labour supply and a change in consumer demand structure due to the demographic change. Moreover, the general equilibrium effects of different policy reforms will be evaluated and compared. To achieve this goal we construct a dynamic overlapping generations (OLG) computable general equilibrium (CGE) model of Switzerland and calibrate it with current Swiss data. Models of this type are the conventional approach to evaluating inter- and intra-generational effects of population ageing. However, only few studies focus on the labour market and even fewer emphasise the demand side. The evidence is particularly scarce for Switzerland, where only a handful of general equilibrium analyses relating to population ageing have been conducted.

In order to facilitate estimating realistic parameters of the model as well as calibrating the model to expected short and medium term industry-specific developments we conduct a customised firm level survey, which, on its own, already constitutes a significant contribution to the relevant literature. The finalised model does not only allow us to predict transitional and long-term effects of the demographic change on the economy and the industry structure. It also provides us with the ability to evaluate and compare different reform proposals, such as an increase in the retirement age, reforms of the pension and healthcare systems and different immigration scenarios. As such, we will be able to give recommendations for optimal policy choice and provide valuable inputs to the political debate.

In 2019, a Statista study on labor shortages showed that in 2020, 16 percent of the North American workforce were working in low-skilled occupations, with this share decreasing to 15 percent by 2030.

Bureau of Labor Statistics - Job Openings and Labor Turnover Survey (JOLTS) 2000-2025From the BLS:Job Openings and Labor Turnover Survey Overview PageThe Job Openings and Labor Turnover Survey (JOLTS) is a monthly survey that has been developed to address the need for data on job openings, hires, and separations.PurposeThese data serve as demand-side indicators of labor shortages at the national level. Prior to JOLTS, there was no economic indicator of the unmet demand for labor with which to assess the presence or extent of labor shortages in the United States. The availability of unfilled jobs—the job openings rate—is an important measure of the tightness of job markets, parallel to existing measures of unemployment.ScopeData from a sample of approximately 21,000 U.S. business establishments are collected by the Bureau of Labor Statistics through JOLTS Data Collection Centers in Atlanta and Kansas City. The JOLTS survey covers all nonagricultural industries in the public and private sectors for the 50 States and the District of Columbia.Data ElementsJOLTS collects data on Total Employment, Job Openings, Hires, Quits, Layoffs & Discharges, and Other Separations. For more information on the JOLTS data elements, see the JOLTS data definitions page.Reference PeriodsTotal Employment - the pay period that includes the 12th of the month.Job Openings - the last business day of the month.Hires and Separations - the entire calendar month.

Graph and download economic data for Job Openings: Total Nonfarm (JTSJOL) from Dec 2000 to May 2025 about job openings, vacancy, nonfarm, and USA.

In 2019, a Statista study on labor shortages showed that in 2020, ** percent of the North American workforce were working in medium-skilled occupations, with this share decreasing to ** percent by 2030.

IntroductionShortages of health professionals is a common problem in humanitarian settings, including among migrants and refugees at the US-Mexico border. We aimed to investigate determinants and recruitment recommendations for working with migrants to better understand how to improve health professional participation in humanitarian efforts.MethodsSemi-structured interviews were conducted with health professionals working with migrants at the US-Mexico border in Matamoros and Reynosa, Mexico. The study aimed to identify motivations, facilitators, barriers, and sacrifices to humanitarian work, and recommendations for effective learning approaches to increase participation. Participants included health professionals working within humanitarian organizations to deliver healthcare to migrants living in non-permanent encampments. Interviews lasted approximately 45 min and were analyzed in NVivo14 using a validated codebook and team-based methodology.ResultsAmong 27 participants, most were female (70%) with median age 32. Health professionals included nurses (41%), physicians (30%), logisticians (11%), social workers (7%), an EMT (4%), and a pharmacist (4%) from the US (59%), Mexico (22%), Cuba (11%), Peru (4%), and Nicaragua (4%) working for four organizations. Participants expressed internal motivations for working with migrants, including a desire to help vulnerable populations (78%), past experiences in humanitarianism (59%), and the need to address human suffering (56%). External facilitators included geographic proximity (33%), employer flexibility (30%), and logistical support (26%). Benefits included improved clinical skills (63%), sociocultural learning (63%), and impact for others (58%). Negative determinants included sacrifices such as career obligations (44%), family commitments (41%), and safety risks (41%), and barriers of limited education (44%) and volunteer opportunities (37%). Participants criticized aspects of humanitarian assistance for lower quality care, feeling useless, and minimizing local capacity. Recommendations to increase the health workforce caring for migrants included integration of humanitarian training for health students (67%), collaborations between health institutions and humanitarian organizations (52%), and improved logistical and mental health support (41%).ConclusionHealth professionals from diverse roles and countries identified common determinants to humanitarian work with migrants. Recommendations for recruitment reflected feasible and collaborative approaches for professionals, organizations, and trainees to pursue humanitarian health. These findings can be helpful in designing interventions to address workforce shortages in humanitarian migrant contexts.

Alberta Enterprise and Advanced Education completed a comprehensive research study of the labour supply in select occupations in the United States (U.S.), including a number of engineering and related professions. The objective of the study is to provide labour market intelligence that will inform Alberta employers as they seek to address current and future labour shortages. This recruiting guide identifies the top recommended locations for targeted recruitment of workers in the selected engineering occupations.

This November, the price for fresh whole body turkeys surpassed November 2020 figures by 9%, while frozen whole body turkeys jumped 20% y-o-y. A short supply of workers led to lower turkey output and higher prices on the backdrop of consistently strong consumer demand. Turkey imports to the U.S. maintained the previous year’s levels. Canada and Chile remain the only turkey suppliers to America. Unprecedented inflation rates have struck the entire food sector, in October 2021, price increases for meats, poultry, fish and eggs became the highest recorded in the past 30 years.

United States Warehouse Robotics Market size was valued at USD 5.2 Billion in 2024 and is projected to reach USD 16.8 Billion by 2032, growing at a CAGR of 15.8% from 2026 to 2032E-commerce Growth Acceleration: The sustained expansion of online retail, with same-day and next-day delivery expectations, is driving unprecedented demand for automated fulfillment solutions that can handle high-volume, variable order patterns efficiently.Acute Labor Shortage Crisis: Persistent warehouse worker shortages, exacerbated by high turnover rates and physically demanding work conditions, are forcing companies to adopt robotic solutions to maintain operational continuity and meet consumer demands.

The United States home construction market, valued at approximately $700 billion in 2025, is experiencing robust growth, projected to maintain a compound annual growth rate (CAGR) exceeding 3% through 2033. This expansion is fueled by several key factors. Firstly, a persistent housing shortage, particularly in desirable urban areas like New York City, Los Angeles, and San Francisco, continues to drive demand. Secondly, favorable demographic trends, including millennial household formation and an increasing preference for homeownership, are bolstering the sector. Furthermore, low interest rates (though this is subject to change depending on economic conditions) have historically made mortgages more accessible, stimulating construction activity. However, the market isn't without its challenges. Rising material costs, labor shortages, and supply chain disruptions continue to exert upward pressure on construction prices, potentially impacting affordability and slowing growth in certain segments. The market is segmented by dwelling type (apartments & condominiums, villas, other), construction type (new construction, renovation), and geographic location, with significant activity concentrated in major metropolitan areas. The dominance of large national builders like D.R. Horton, Lennar Corp, and PulteGroup highlights the industry's consolidation trend, while the growth of multi-family construction reflects shifting urban preferences. Looking ahead, the market's trajectory will depend on macroeconomic factors, interest rate fluctuations, government policies impacting housing affordability, and the ability of the industry to address supply-chain and labor challenges. Innovation in construction technologies, sustainable building practices, and prefabricated homes are also emerging trends expected to significantly influence market dynamics over the forecast period. The competitive landscape is characterized by a mix of large publicly traded companies and smaller regional builders. While established players dominate the market share, opportunities exist for smaller firms specializing in niche markets, such as sustainable or luxury home construction, or those focused on specific geographic areas. The ongoing expansion of the market signifies significant potential for investment and growth, despite the hurdles currently impacting the sector. Addressing supply chain disruptions and labor shortages will be crucial for sustained growth. Continued demand in key urban centers and evolving consumer preferences toward specific dwelling types will be critical factors determining the market's future trajectory. Recent developments include: June 2022 - Pulte Homes - a national brand of PulteGroup, Inc. - announced the opening of its newest Boston-area community, Woodland Hill. Offering 46 new construction single-family homes in the charming town of Grafton, the community is conveniently located near schools, dining, and entertainment, with the Massachusetts Bay Transportation Authority commuter rail less than a mile away. The collection of home designs at Woodland Hill includes three two-story floor plans, ranging in size from 3,013 to 4,019 sq. ft. with four to six bedrooms, 2.5-3.5 baths, and 2-3 car garages. These spacious home designs feature flexible living spaces, plenty of natural light, gas fireplaces, and the signature Pulte Planning Center®, a unique multi-use workstation perfect for homework or a family office., December 2022 - D.R. Horton, Inc. announced the acquisition of Riggins Custom Homes, one of the largest builders in Northwest Arkansas. The homebuilding assets of Riggins Custom Homes and related entities (Riggins) acquired include approximately 3,000 lots, 170 homes in inventory, and 173 homes in the sales order backlog. For the trailing twelve months ended November 30, 2022, Riggins closed 153 homes (USD 48 million in revenue) with an average home size of approximately 1,925 square feet and an average sales price of USD 313,600. D.R. Horton expects to pay approximately USD 107 million in cash for the purchase, and the Company plans to combine the Riggins operations with the current D.R. Horton platform in Northwest Arkansas.. Notable trends are: High-interest Rates are Negatively Impacting the Market.

In 2019, a Statista study on labor shortages showed that in 2020, ** percent of the North American workforce were working in occupations that required higher education, with this share increasing to ** percent by 2030.

The size of the North America ASRS market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of 9.01% during the forecast period.North America Automated Storage and Retrieval Systems (ASRS) Market The North America ASRS market is one of the most significant contributors to the global ASRS landscape. ASRS are computer-controlled systems that automatically store and retrieve goods in warehouses and distribution centers. The main advantages of such systems include greater efficiency, higher accuracy, and faster inventory management.In North America, the growth factors for the ASRS market are e-commerce, supply chain optimization, and labor shortages. The region's advanced manufacturing sector and major logistics companies are also driving the expansion of the market. ASRS are widely used in manufacturing, retail, healthcare, and pharmaceuticals to enhance productivity and reduce operational costs. Recent developments include: September 2020 - The Wichita State University announced the launch of The Smart Factory@Wichita in collaboration with Deloitte, including a full-scale production line, automated storage, and hosting sponsors and experimental labs to expand the technological expertise.. Key drivers for this market are: Increased Emphasis on Workplace Safety, Increasing Concerns about Labor Costs. Potential restraints include: Need for Skilled Workforce and Concerns over Replacement of Manual Labor. Notable trends are: Retail Industry is Expected to Hold Significant Market Share.

According to Cognitive Market Research, the global Anthropomorphic Robot market size will be USD XX million in 2025. It will expand at a compound annual growth rate (CAGR) of XX% from 2025 to 2031.

North America held the major market share for more than XX% of the global revenue with a market size of USD XX million in 2025 and will grow at a CAGR of XX% from 2025 to 2031. Europe accounted for a market share of over XX% of the global revenue with a market size of USD XX million in 2025 and will grow at a CAGR of XX% from 2025 to 2031. Asia Pacific held a market share of around XX% of the global revenue with a market size of USD XX million in 2025 and will grow at a CAGR of XX% from 2025 to 2031. Latin America had a market share of more than XX% of the global revenue with a market size of USD XX million in 2025 and will grow at a CAGR of XX% from 2025 to 2031. Middle East and Africa had a market share of around XX% of the global revenue and was estimated at a market size of USD XX million in 2025 and will grow at a CAGR of XX% from 2025 to 2031. Market Dynamics

Key Drivers

Humanoid robots are seeing increased market demand due to the growing imperative for automation.

The rising need for automation is indeed creating substantial market opportunities for anthropomorphic robots, often referred to as humanoid robots. This trend is driven by several converging factors that make human-like robots increasingly appealing and viable across various industries. Firstly, a significant driver is the growing labor shortage and rising labor costs in many developed and even developing economies. According to stats US labor shortage is reported at 70% as of April 2025. the US has seen a significant decline in labor force participation with approximately 1.7 million fewer workers in US workforce compared to February 2020 which thereby project the need of these robots Industries like manufacturing, logistics, healthcare, retail, and hospitality are struggling to find enough human workers for repetitive, physically demanding, or dangerous tasks. Anthropomorphic robots, designed to operate in human-centric environments and handle tools designed for humans, can directly fill these labor gaps. They don't require breaks, don't suffer from fatigue, and can work around the clock, significantly boosting productivity and efficiency. Companies like Tesla (Optimus), Agility Robotics, and Figure AI are actively developing and piloting humanoids for tasks within existing human-designed environments. For instance, Tesla claims Optimus can significantly enhance supply chain efficiency by streamlining workflows and enabling 24/7 operations, addressing labor shortages by allocating human roles to critical duties (MDPI). Secondly, advancements in Artificial Intelligence (AI) and Machine Learning (ML) are rapidly enhancing the capabilities of these robots. Modern humanoid robots are no longer just rigid, pre-programmed machines. With AI, they can learn from observation, respond to natural language commands, adapt to dynamic environments, and even make real-time decisions. This "general-purpose intelligence" allows them to perform a much wider range of complex tasks with human-like dexterity and adaptability, opening up applications that traditional, fixed automation couldn't address. For instance, companies like Tesla (Optimus), Agility Robotics (Digit), and Sanctuary AI (Phoenix) are developing robots capable of intricate tasks in factories and warehouses. Thirdly, the economic viability of anthropomorphic robots is rapidly improving. The unit cost of humanoid robots has significantly decreased in recent years (e.g., a 40% drop between 2022 and 2024 for some models), while human labor costs continue to rise. This narrowing cost gap makes the investment in humanoid robots increasingly attractive, promising a compelling return on investment within a few years for many use cases. This cost parity is poised to accelerate adoption across industries. Fourthly, the inherent design of anthropomorphic robots makes them highly versatile and adaptable to existing infrastructure. The world is built for humans, meaning factories, warehouses, hospitals, and homes are designed with human dimensions and movement in mind. Humanoid robots, with their bipedal mobility and dexterous manipulators, can navigate these "brownfield" settings without requiring extensive and costly retrofits...

Overview

New York, NY – June 20, 2025 – Global Healthcare Workforce Management System Market size is expected to be worth around US$ 7.7 Billion by 2034 from US$ 2.2 Billion in 2024, growing at a CAGR of 13.3% during the forecast period 2025 to 2034. In 2024, North America led the market, achieving over 38.9% share with a revenue of US$ 0.9 Billion.

In 2024, the global healthcare workforce management system market is experiencing substantial growth, driven by the increasing need to optimize hospital staffing, reduce administrative burden, and ensure regulatory compliance. Healthcare providers worldwide are adopting workforce management software to manage labor costs, automate scheduling, and improve productivity across hospitals, clinics, and long-term care facilities.

According to the U.S. Centers for Medicare & Medicaid Services (CMS), healthcare labor constitutes nearly 60% of total hospital expenditures, emphasizing the importance of efficient workforce deployment. Workforce management systems integrate functionalities such as time and attendance tracking, staff scheduling, credentialing, payroll integration, and performance analytics. These solutions support real-time staffing decisions, reduce overtime costs, and ensure qualified personnel are available at critical times.

North America leads the market due to a mature healthcare infrastructure, high digital adoption rates, and strict staffing regulations. The Asia-Pacific region is emerging as a growth hub, propelled by healthcare digitization efforts in India, China, and Southeast Asia.

Public health authorities and hospital systems are increasingly investing in cloud-based, AI-enabled workforce platforms to enhance care delivery and operational agility. As hospitals face workforce shortages and rising patient volumes, the adoption of healthcare workforce management systems is expected to accelerate, ensuring sustainable and efficient workforce operations in the years ahead.

The United States Prefabricated Building market is forecasted to add more than USD 19 Billion from 2024 to 2029 due to rising construction demand, labor shortage, and sustainable b

Snapshot img

US Commercial Construction Market Size 2025-2029

The us commercial construction market size is forecast to increase by USD 191 billion at a CAGR of 2.7% between 2024 and 2029.

The Commercial Construction Market in the US is experiencing significant growth driven by the increasing trend towards sustainable building design and the emergence of smart cities. Green buildings, which incorporate energy-efficient designs and renewable energy sources, are gaining popularity due to their environmental benefits and cost savings over time. This trend is expected to continue, with the US Green Building Council reporting that nearly half of all new commercial construction projects in the US are now green certified. However, the market is not without challenges. One of the most pressing issues is the lack of skilled labor in the construction industry. According to the Associated General Contractors of America, over 80% of contractors report difficulty in filling hourly craft positions. This labor shortage is driving up costs and delaying project timelines, making effective workforce management a critical challenge for construction companies. To capitalize on the growth opportunities in the market, companies must focus on innovative solutions to address the labor shortage, such as training programs and partnerships with vocational schools. Additionally, leveraging technology, such as automation and modular construction, can help improve efficiency and reduce reliance on manual labor. Overall, the Commercial Construction Market in the US presents significant opportunities for companies that can effectively navigate these challenges and stay ahead of the trend towards sustainable and smart building design.

What will be the size of the US Commercial Construction Market during the forecast period?

Request Free Sample

The commercial construction market in the US is experiencing significant dynamics and trends. Labor force shrinkage and escalating costs are major challenges for office building construction, repair and maintenance, water infrastructure projects, and mixed-use developments. Infrastructure development programs and urban regeneration are driving the need for energy-saving designs, outdoor leisure facilities, and renovation and retrofitting. Product lead times and fluctuating material prices add complexity to retail building projects in the non-residential building market. Labor shortages and rising building material prices are also impacting infrastructure projects and refurbishment and demolition activities. These factors necessitate innovative solutions and strategic planning for US businesses in the construction sector. Market research firms like FMI, Grand View Research, and Juniper Research provide valuable insights into these trends and dynamics.

How is this market segmented?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. SectorPrivate constructionPublic constructionTypeBuildingOthersEnd-userOffice buildingsRetail spacesHotels and hospitalityHealthcare facilitiesOthersGeographyNorth AmericaUSEuropeMiddle East and AfricaAPACSouth AmericaRest of World (ROW)

By Sector Insights

The private construction segment is estimated to witness significant growth during the forecast period.

The commercial construction market in the US encompasses the development of various structures, including restaurants, grocery stores, shopping centers, office facilities, hospitals, and educational institutions. Notable projects, such as the El Paso VA Health Care Center in Fort Bliss, which had its groundbreaking on August 28, 2024, and Skymark Reston Town Center, the tallest residential tower in the Capital Region, which reached its topping out point in October 2023, contribute significantly to this sector's expansion. Infrastructure development programs, such as electric grid reconstruction and water infrastructure projects, are also driving the commercial construction market. For instance, the infrastructure bill, which includes funding for infrastructure projects, is expected to boost the market's growth. Additionally, the non-residential building market is experiencing a surge due to urban regeneration and renovation and retrofitting initiatives. However, the market faces challenges, including labor shortages, cost escalation, and fluctuating material prices. The construction industry's labor shortage is a significant concern, with an estimated 200,000 unfilled jobs in 2023. Furthermore, infrastructure projects often face delays due to labor shortages and rising material prices. The non-residential segment, including office buildings and retail buildings, is experiencing increased demand due to the shift towards energy-saving designs and the need for better communic

United States Pipe For Building Construction Market size was valued at USD 11,387.16 Million in 2023 and is projected to reach USD 16,825.80 Million by 2031, growing at a CAGR of 5.09% from 2024 to 2031.

United States Pipe For Building Construction Market Overview

The growing construction in the U.S. is a significant driver of the U.S. Pipe for Building Construction Market in the near future. Pipe has a multiple application in construction of building for example it is used for water distribution, sewage and drainage, HVAC, electrical wiring, stormwater drainage, etc. Growing population, increasing construction activities, and growing infrastructure development driving the construction industry in the U.S. The construction industry is important to the US economy, with over 745,000 enterprises employing around 7.8 million people annually. Total construction spending in 2023 was $1.98 trillion, up 7.4% from the previous year. Nonresidential building grew 17.6% year on year, whereas residential construction spending declined by 3% due to rising interest rates and inflation. The construction industry accounts for roughly 4.3% of U.S. GDP.

However, the labor shortages in the construction industry is anticipated to negatively affect the market growth. The construction industry relies heavily on skilled labor to install and maintain piping systems efficiently and safely. However, the shortage of qualified workers delays project completion, which in turn postpones the demand for construction materials, including pipes. This labor shortfall became particularly pronounced during the COVID-19 pandemic and has persisted into 2023, affecting the pace at which new projects can be initiated and completed.

Nephrologists are instrumental in addressing the rising rates of renal diseases in the US. Demographic trends have been responsible for this rise in recent years since older adults are more likely to develop a kidney condition, and a sizeable portion of the US population is of advanced age. Rising health expenditures, federal initiatives, and heightened insurance coverage have all facilitated access to comprehensive renal care. Few substitutes can replace nephrologists' role in providing kidney care, historically limiting sudden swings in demand. While initial drops in patient volumes following COVID-19 strained practices, backlogs of care swiftly recovered revenue losses from the drop-off. Still, financial and operational challenges related to inflation, supply chain disruptions and hiring challenges have kept profit from seeing a similar recovery in the current period. Despite recent volatility, industry-wide revenue has been expanding at a CAGR of 4.4% to an estimated $9.7 billion over the past five years, including expected growth of 3.6% in 2025. High rates of burnout and turnover have exacerbated staffing shortages in the nephrology field, which were a concern before the pandemic. Although wages remain the largest expense for nephrology providers, accounting for over 40% of revenue in 2025, this share has declined for over five years. This trend compounds hiring challenges, leading providers to focus on raising wages to retain existing staff rather than pursuing new hires in a tight labor market. In response to these issues, investments in tech advances — including telehealth, electronic health records (EHRs), digital patient portal and AI platforms — have risen as solutions to mitigate labor shortages, enabling practices to handle rising patient volumes without a corresponding increase in workforce size. Notably, while wages' share of total revenue has dropped, revenue per employee has risen significantly, underscoring that tech investments are driving improvements in efficiency. Demographic trends will be the main influence driving growth moving forward. Nephrologists will continue to be relied upon to treat kidney conditions amid rising rates of disease, while also being central to federal initiatives to reduce the burden of end-stage renal disease or kidney failure. Challenges facing nephrology practices – including a growing dependence on Medicare, hiring challenges and heavy administrative loads – will incentivize consolidation. Larger practices mitigate risk and are better suited to navigate an increasingly complex regulatory and payment environment. In all, revenue will expand at a CAGR of 2.9% to an estimated $11.2 billion over the next five years.